Airvana, a provider of mobile broadband network infrastructure products, has reported total revenue of $7.6 million for the first quarter ended March 30, 2008, compared with $269,000 for the same period of 2007.
Airvana’s net loss for the first quarter of 2008 was $11.7 million compared with a net loss of $18.8 million for the first quarter of 2007. The operating expenses for the first quarter of 2008 increased to $24.9 million from $20.1 million in the prior year, reflecting the company’s investments in CDMA and UMTS femtocell product development, as well as funding for international sales and marketing programs.
On a non-GAAP basis, billings for the first quarter of 2008 were $37.8 million compared with $41.5 million for the first quarter of 2007. On a non-GAAP basis, the company’s gross profit on billings for the first quarter of 2008 was $35.3 million compared with $39.6 million for the first quarter of 2007. On a non-GAAP basis, operating profit on billings for the first quarter of 2008 was $10.4 million, compared with $19.6 million for the first quarter of 2007.
Randy Battat, president and CEO, said: Increased demand for our high-capacity radio network controllers generated higher Billings for our core EV-DO products. This demand supports our belief that wireless operators are experiencing significant growth in data traffic on their networks.
